The Type of Product That Prompted Passage of the Consumer

question 2

Multiple Choice

The type of product that prompted passage of the Consumer Product Safety Act was:

• A) automobiles.
• B) children's toys.
• C) refrigerators.
• D) food products.

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Definitions:

Congress

The national legislative body of the United States, consisting of the Senate and the House of Representatives.

Individual Choices

The decisions made by individuals based on preferences, income, and prices that determine what goods and services they acquire.

Economic Capability

The ability of an individual, company, or country to produce goods or services efficiently, using available resources and technology.

Equilibrium

A state where market supply and demand balance each other, and, as a result, prices become stable.